The rare coin market has evolved over the last few years. Rare coins and currency are a multi-billion dollar a year business. The market is growing with at least 5,000 active coin companies in the United States. Collectors of rare coins or currency are interested in the investment aspect of the “hobby”. Recent auction results show that sales of coins and currency can exceed $100,000,000 per year. Heritage Auctions alone said that the annual rare coin sales is over $500,000,000.
Over the past year, there’s a trend growing amongst rare coins. According to Blanchard, “Many high-end collections came to market and generated huge interest as well as dollars. The D. Brent Pogue Collection was the highlight of the year and it took 35 years to amass and contained only 650 coins, but the presale estimate for the collection was $200 million. This collection boasted some of the rarest numismatic treasures known, such as the 1822 gold half eagle that the Pogue family purchased for $687,500 in 1982.”
There is a lot of money in rare coins, and the top 5 rarest items are:
- Quarter Eagle:39,101 was paid for a 1914 version of this coin in January 2012.
- Half Eagle:An 1884 version of a half eagle commanded $39,100 on the rare coins marketplace in November 2010.
- Eagle: The highest price paid for a 1907 $10 eagle gold coin was $39,780 in September 2010.
- Double Eagle: In the early 20th century, President Theodore Roosevelt sought to redesign many U.S. mints during his term, and commissioned a famous American sculptor, Augustus Saint-Gaudens, to design the version pictured below. These coins are made of 90% gold and 10% copper alloy, and the most paid for one of these rarities from 1907 was $39,963, bought in January 2012.
- Three Dollar Piece: The coin is 90% gold and 10% copper alloy. Only about 530,000 of them were minted, a small amount for U.S. coins, and the line was discontinued in 1889. $39,100 was paid for an 1887 three-dollar piece in March 2009.
Collecting and selling rare coins and currency can be a profitable and exciting new hobby. Everyone should be on the lookout for any heirlooms that may be collecting dust in the attic. They could be worth a small fortune.
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